Discussion begins for upcoming budget, time to propose projects likely to extend

Kathmandu: In the wake of the formation of the new government and the approaching timeline of the annual budget, ministries began discussions for the formulation of the upcoming budget.

The National Planning Commission (NPC) had an initial discussion with three ministries, with the coordination of the Finance Ministry, on Sunday.

Spokesperson at NPC, Hari Sharan Pudashaini, informed that NPC held a meeting with the Finance Ministry, the Foreign Ministry and the Ministry of Law, Justice and Parliamentary Affairs, focusing on mid-term expenditure framework (MTEF), budget ceiling determined by the National Resource Monitoring Committee, and guidelines delivered by the Finance Ministry.

“The discussion was launched to forward the formulation of the budget for the upcoming fiscal year, 2083/84BS. We dwelt on how the plans could be ensured effective by setting priorities within a determined limit,” Pudashaini said, adding that each ministry needs to prepare a proposal incorporating policies, programmes and budget as per the Financial Procedure and Fiscal Responsibility Act, 2076.

The budget ceiling and guidelines should be abided by while advancing the proposals to the NPC and the Finance Ministry. Earlier, the Finance Ministry had given a deadline till today (March 29) to all ministries to forward their plans and project proposals.

However, the ministries viewed that they could not pick up the pace for it, citing the formation of the new government. The Finance Ministry is likely to extend the time.

“The ministries were reminded to enter the projects, plan and budget through the line ministry budget information system (LMBIS) by today. The time for it could be extended to include the issues mentioned in the 100-day governance reform plan, ruling parties’ election commitments and other reform schemes,” said Tank Prasad Pandey, Spokesperson at Finance Ministry.

The ministries were asked to maintain a clear standard while proposing the budget. Meanwhile, the Finance Ministry informed that it was preparing an economic survey and a progress report of the public corporation (Yellow Book) in parallel.

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